Looks like a nice fit, tiny company, however probably has some loyal customers..
Wednesday January 20, 5:18 pm Eastern Time
Company Press Release
SOURCE: Abatix Environmental Corporation
Abatix Environmental Corp. Announces Acquisition of Keliher Hardware Company
DALLAS, Jan. 20 /PRNewswire/ -- Abatix Environmental Corp. (Nasdaq: ABIX - news) announced today that it has completed the acquisition of Keliher Hardware Company (''Keliher''). Keliher is a $3.5 million industrial supply distributor based in Los Angeles, California. Keliher is an 80-year-old company with a strong history of providing industrial supply solutions to their customers.
Mr. Terry W. Shaver, President, stated ''We are excited about the opportunities presented by the combination of Keliher and Abatix. The addition of Keliher reaffirms our commitment to the Southern California marketplace, not only with broader product lines, but also with improved coverage of the area. To serve the needs of the customers in the Los Angeles area, Abatix/Keliher will operate from facilities in Santa Fe Springs, Los Angeles and Long Beach.''
Mr. Shaver concluded, ''We spent the majority of 1998 analyzing strategic alternatives. The acquisition of Keliher is the first step in implementing our acquisition/merger strategy adopted by the Board of Directors in November 1998. We are excited about the opportunities for the remainder of 1999.''
Except for the historical information contained herein, the matters set forth in this release are forward looking and involve a number of risks and uncertainties. The ability of the Company to continue an acquisition strategy is dependent on many factors, including, but not limited to, general economic conditions and changes in interest rates. In addition, integrating operations and retaining key personnel are risks associated with an acquisition/merger and adequate capital resources may be too costly to fully implement such a strategy.
Abatix Environmental Corp. is a full line supplier to the asbestos abatement, hazardous materials, industrial safety and construction tool industries. The Company has ten distribution centers in Dallas and Houston, Texas, in Hayward, Santa Fe Springs, Los Angeles and Long Beach, California, in Phoenix, Arizona, in Denver, Colorado, in Kent, Washington and in Las Vegas, Nevada. These distribution centers serve customers throughout the Southwest, Midwest, Pacific Coast, Alaska and Hawaii.
SOURCE: Abatix Environmental Corporation |
